Gasum logs higher revenue

Finland-based LNG and LBG supplier Gasum has reported higher revenue in the first half of this year, boosted by a rise in deliveries to customers in the maritime sector.

Gasum said its revenue rose almost 72 percent year-on-year in the January-June period to 519.1 million euros.

However, the firm logged a net loss of 2.8 million euros, compared to a profit of 17.5 million euros in the first half of 2020.

“A clear growth in volumes in all our segments, as well as the trend in the price of gas compared to a year earlier, contributed to the increase in group revenue,” chief executive Johanna Lamminen, said.

“Demand for cleaner energy is growing in all customer segments. In industry, our biggest business segment, volumes delivered to our customers were up 25% during the first half of 2021 compared to a year earlier,” she said.

Moreover, demand in the maritime business continued to increase during the period under review, and these volumes rose 75% compared to a year earlier.

This includes delivering two test consignments of liquefied biogas to the Finnish Border Guard for their offshore patrol vessel Turva, Lamminen said.

In addition, Gasum continued to build a network of LNG filling stations in the Nordics.

According to the firm, more than 600 new gas-fueled vehicles, of which more
than 50 were vans and trucks, were registered in Finland during the second quarter of this year.

The number of gas-fueled vehicles already totals more than 14,800 in Finland
and more than 50,000 in Sweden, it said.

Most Popular

Karpowership eyes Vietnam LNG-to-power project

Turkiye's Karpowership, a part of Karadeniz, is exploring the possibility of developing a floating LNG-to-power project in Vietnam.

Cheniere to start pre-filing process for Corpus Christi Stage 4 project

US LNG exporting giant Cheniere is seeking approval from the US FERC to initiate the environmental pre-filing review for its Corpus Christi Liquefaction Stage 4 project in Texas.

MT bags German LNG jetty gig

Lithuanian EPC contractor MT Group has secured a contract from Australia's Worley for a new jetty as part of DET’s FSRU-based LNG import terminal in Brunsbüttel, Germany.

More News Like This

Gasum in Norwegian bio-LNG move

Finnish state-owned energy firm Gasum has signed a deal with Norway's Vireo to purchase all the bio-LNG produced at the latter's Hardanger biogas plant in Norway.

Gasum, Sirius order LNG bunkering vessel at RMK

Finnish state-owned energy firm and LNG supplier, Gasum, has joined forces with Swedish shipping firm Sirius to order one LNG bunkering vessel at Turkiye's RMK Marine.

Wartsila wins contract for Gasum’s bio-LNG plant in Sweden

Finland’s tech firm Wartsila said it will supply equipment for Gasum’s new bio-LNG production plant in Sweden. Wartsila booked the...

Deutsche ReGas in first Mukran LNG reloading op

Deutsche ReGas confirmed the first reloading operation in a statement on Tuesday. Coral Energy, a small-scale LNG carrier built in...